Automotive HVAC Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Automotive HVAC Industry Prospective

According to a report from Zion Market Research, the global Automotive HVAC Market was valued at USD 52.02 Billion in 2023 and is projected to hit USD 94.2 Billion by 2032, with a compound annual growth rate (CAGR) of 6.82% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Automotive HVAC industry over the next decade.

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Global Automotive HVAC Market: Overview

HVAC is a heating, ventilation, and air conditioning technology that is used to maintain a pleasant environmental temperature inside the vehicle. The process of exchange and circulation of fresh air within a space is known as ventilation. Air conditioning is a process of shifting air in order to make indoor air more comfortable. The major advantage of an automotive HVAC system is that it provides a high level of comfort inside the vehicle for a longer duration.  Previously, the use of HVAC automotive systems was a luxury, and not all cars were equipped with HVAC. However, it has now a mandatory feature in most vehicles because of the fundamental automotive safety and comfort requirements that are internationally recognized.

Global Automotive HVAC Market: Growth Factors

Factors such as increasing income levels and a rising middle-class population are expected to boost market growth in the future. Also, growing demand in the automotive sector is stimulating the market size of automotive HVAC. In addition, the automotive HVAC market is witnessing high demand owing to automatic temperature control features. Automotive HVAC system utilizes refrigerants which reduce concerns regarding safety; this, in turn, is anticipated to increase demand in the forthcoming years. The use of polluting refrigerants, to some extent, in the automatic HVAC market poses challenges to the thermal system. Furthermore, the implementation of geothermal pumps is expected to boost the global market growth in the coming years.

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Global Automotive HVAC Market: Segmentation

On the basis of technology, the global automotive HVAC market is segmented into manual HVAC systems and automatic HVAC systems. The automatic HVAC system dominates the market owing to the increasing adoption of technology by customers.

Based on the components, the global market is segmented as a receiver, compressor, and expansion device. The compressor market is estimated to be the fastest-growing segment over the next six years.

The compressors generate the flow of refrigerants and remove latent heat. Manufacturers are focusing on upgrading their product offerings to meet the rising energy standards and low GWP coolant requirements, expanding the market size of the industry.

Further, the global automatic HVAC market is segmented on the basis of vehicle types as passenger vehicles, commercial vehicles, and heavy commercial vehicles. The passenger vehicle segment is influencing the market owing to an increase in the production of passenger vehicles.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Automotive HVAC Market: Report Scope

Global Automotive HVAC Market: Regional Analysis

Asia Pacific has accounted for the major hunk of the global market share of the automotive HVAC industry. It is due to an increase in the number of vehicle production in developing countries such as India, and China. In addition, growing government support for the auto industry impacts the global market in a positive way. Moreover, North America and Europe are expected to grow at the fastest pace owing to the improving macroeconomic and production capacity.

Global Automotive HVAC Market: Competitive Players

Some main participants of the global automotive HVAC market are

• Johnson Electric
• Air International Thermal Systems
• Valeo SA
• Visteon Corporation
• Brose GmbH & Co.
• Keihin Corporation
• Toyota Industries Corporation.
• Delphi Automotive LLP
• Denso Corporation
• Xiezhong International Holdings Limited
• Sanden Corporation
• Calsonic Kansei Corporation
• Japan Climate Systems Corporation
• Gentherm Inc.
• among others.

This report segments the global automotive HVAC market into:

By Technology

• Manual
• Automatic

By Component

• Evaporator
• Compressor
• Condenser
• Receiver/Drier
• Expansion Device

By Vehicle Type

• Passenger Cars
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

Automotive HVAC Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa